- Page 1: 2012 Annual Report
- Page 4 and 5: Contents PRESENTATION Letter to the
- Page 6 and 7: Letter to the stakeholders Consolid
- Page 8 and 9: Italcementi Group in the world (as
- Page 10 and 11: Highlights Contribution to consolid
- Page 12 and 13: Share prices and market capitalizat
- Page 14 and 15: E) Share prices and market capitali
- Page 16 and 17: Italcementi S.p.A. Directors, Offic
- Page 18 and 19: Lorenzo Renato Guerini (Director si
- Page 20 and 21: Alberto Clô (Director since May 4,
- Page 22 and 23: Yves René Nanot (Director since Ju
- Page 24 and 25: Board of Statutory Auditors Maria M
- Page 26 and 27: Notice of Call Those who are entitl
- Page 28 and 29: Appointment of the Board of Directo
- Page 32 and 33: Directors’ report Following the a
- Page 34 and 35: Significant events in the year Sign
- Page 36 and 37: Financial performance in 2012 Key c
- Page 38 and 39: In cement and clinker, the fall in
- Page 40 and 41: Revenue and operating performance C
- Page 42 and 43: Impairment losses on financial asse
- Page 44 and 45: Condensed statement of cash flows (
- Page 46 and 47: managed at individual company level
- Page 48 and 49: Compliance risks The Group is subje
- Page 50 and 51: quarter of clinker production in tw
- Page 52 and 53: Revenue Recurring EBITDA EBITDA Emp
- Page 54 and 55: ASIA Thailand India Others (1) Tota
- Page 56 and 57: Morocco In the fourth quarter of 20
- Page 58 and 59: Azienda Agricola Lodoletta S.r.l..
- Page 60 and 61: Engineering, technical assistance,
- Page 62 and 63: BravoSolution France reported reven
- Page 65 and 66: Consolidated financial statements 6
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Annexes 135 www.italcementigroup.co
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Directors’ report Any changes in
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short-term was negatively influence
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With respect to Italcementi S.p.A.
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all, 76.5 million euro from the eli
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documents were prepared and sent fo
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The Group checks that its protectio
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Disputes and pending proceedings Wi
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Report on Corporate Governance and
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the company, savings shares have pr
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Financial equity instruments The Co
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The analysis, prepared upon instruc
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2) assessing, at least annually, th
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) supports the Company and the Grou
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9) Various company Functions, which
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Composition The By-laws provide tha
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If as a result of the voting based
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• to the Executive Deputy Chairma
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The Board of Directors shared the a
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Italo Lucchini * Italmobiliare S.p.
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However, with respect to the defini
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managers also on the basis, with re
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In the event of filing of more than
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The Company may designate a person,
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192
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194
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GROUP CODE OF ETHICS The Company ad
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Moreover, the ‘Code of Conduct’
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The “Regulation” has been appro
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egular basis, with the business, fi
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to withdraw an amount of 16,719,024
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Department of Human Resources and O
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The Company now, while confirming t
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The plan functioning is aligned, af
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a) the weight of the yearly fixed c
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- defines, annually, proposals for
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n) Remuneration policy possibly app
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o) Whether the remuneration policy
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iv) assessing the degree of achieve
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With reference to this stock option
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In case of a) termination of the em
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of persons who have ceased their as
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Name, surname Position Period durin
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Stock-options Granted to Members of
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Monetary Incentive Plans in Favor o
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Authorization to purchase and dispo
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* * * Dear Shareholders, If you agr
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Appointment of the Board of Directo
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240
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Financial statements Statement of f
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Statement of comprehensive income (
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Statement of cash flows 2012 2011 (
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Notes The separate financial statem
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The main effect arising from applic
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Since January 1, 2010, business com
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1.11. Intangible assets Intangible
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1.18. Employee benefits The company
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1.23. Derivatives The company uses
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Assets Non-current assets 2. Proper
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Recoverable amount coincides with v
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Repayments refer to the partial ret
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The breakdown of other equity inves
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10. Tax assets and liabilities Tax
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16. Analysis of equity captions The
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18. Provisions (in thousands of eur
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The table below details the tempora
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Main non-current and current liabil
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20.2. Management of liquidity, cred
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20.3. Financial assets and liabilit
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At December 31, 2012, financial ins
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20.5.2. Currency risk hedges Curren
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21. Trade payables (in thousands of
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27. Services Services totaled 153,5
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29. Other operating income (expense
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Breakdown of receivables and payabl
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Commitments with related parties CO
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(Breakdown of revenue and costs wit
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(Breakdown of revenue and costs wit
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Compensation to directors and the c
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302
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Annex 1 Highlights from the most re
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2012 Annual Report Presentation 4 G
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2012 Annual Report Presentation 4 G
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Sustainability disclosure 313 www.i
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1 Group vision 1.1 Vision and manag
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1.2 Integrity The Code of Ethics, d
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Diversity Diversity is a source of
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The Group consider diversity manage
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Breakdown of personnel by seniority
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Recordable Injury Rate (TRIR) addin
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Official applications for occupatio
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4 Environmental protection 4.1 Clim
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Thermal consumption, cement 2012 20
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The Group Subsidiary Interbulk Trad
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Air emissions: yearly emissions Mat
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The annual celebration of the World
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5 Responsible production 5.1 Supply
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the reference market). In the last
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Reporting and additional informatio
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UNGC Principles Environment Princip
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SDD011 ISO 14001 Reporting Instruct
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Chemicals and units CO 2 Carbon dio
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Directors’ Report Proposal to ren
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options or with a warrant under the
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taking into account the various pos
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Corporate bodies after the appointm
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italcementi S.p.A. Via G. Camozzi,